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Search Results 0 to 23 of about 24 (some duplicates have been removed)
of them. while avoiding the fiscal cliff will prevent the economy from sliding down into recession, it won't put 12 million people back to work. and jim has written in "national journal" that president obama has to contend with four other forces if he wants to get the economy on better footing. what are those forces? >> these are the forces that have been holding back the recovery in big tore little ways over the last few years. ever since the recession ended. the good news is that a couple of them are starting to abate. let's start with the one that's getting hert. the housing market absolutely was the main driver for why this recovery has been so slow. and it's really starting to turn up. home values are going up. we're seeing home builder sentiment go up. those are good things. the two sort of wild from abroad have been europe and china. europe is basically back in recession. china has come -- has lowered its growth from the last couple of years and so it's a soft landing it appears over there. and then the fourth thing has been volatile gas prices. high and volatile gas prices. and thi
't take us over the fiscal cliff, this economy looks like it's gaining rather than losing momentum going into 2013. >> that's good. you see that housing has turned a corner. >> yeah. >> but then look overseas. all the possibilities of fiscal cliffdom over there. >> yeah, multiple cliffs. actually, britain's not involved in this, interestingly. the sovereign debt crisis there is being worked out slowly, painfully, if they did go through a shock where greek suddenly exited the eurozone or we had spain or italy default, that would be a major game-changer because it would really impair european banks and touch off another financial crisis. that does not seem to be on the horizon. china, which was experiencing something of a hard landing earlier this year is now starting to stimulate its economy again. and looks like china and the u.s. can be barbells in a kind of two-pronged advance in the economy next year. so i think there is reason to be optimistic. people are far too downbeat at this point for the prospect of things here at home. >> in terms of the average american, how are they doing? s
and if they don't like hit the brickings. >> do you think it is for the economy over all. we are in a fiscal cliff and rough waters here and now this to deal with? >> i think it could be bad for the economy. they have the merchandise and this is not going to affect thanksgiving shopping season and christmas most likely. but look at history. 1948 we had five million workers on strike and it crippled the economy. the taft hartley act brought back the boom. that is it breaking of the unions and created the boom that eisenhower had. if these union heads go forward. this could hurt the economy. >> tracey, you made the point about the retailers, it could hurt the consumer spending as well the economy needs that right now. and economist looking to the holiday shopping season to get big numbers out. >> cheril, i am a last minute shopper and i disagree that they have everything in for the season. stuff comes in down to the wire in so many small businesses if you don't have what i am looking for when i generally get out there, i am not buying it that hurts the over all economy. and look. at the unions what
to the new rules about to hit our already fragile economy and as fiscal cliff talks continue, big defense cuts are still on the table. so, should republicans embrace the sequester or make a deal to avoid it? welcome to the journal, editorial report. is the obamacare a sure thing or vast expansion of medicaid, heavily dependent on state implementation and a growing number of the governors are saying they won't do the federal government's bidding. wisconsin's scott walker is one of them and joins me now, governor, great to have you with us. >> paul, good to be with you. >> paul: when you wrote to the hhs secretary kathleen sebelius, you wouldn't set up a state exchange you wouldn't have the flexibility to make it work. why don't you elaborate on what you mean by lack of flexibility. >> each of the governors who run it, a state run, partnership or referring to the federal government. any folks that have a state run exchange they need to realize in the end there is no flexibility in terms of final outcome, there is no substantive difference between the three option, all of them lead to a fede
't provide a will the of benefit to the economy. when tackling the fiscal cliff, we should ask ourselves, which are the most ineffective things. >> keep thinking, guys, that down the line here, the chorus over and over is going to be we all pay more and all get less. thanks for being here. we appreciate it. >>> thousands of people paid a lot to do cramming into stores everywhere. you might even be watching this on a new tv, but retailers needed more than hype. they needed red hot cash registers on this black friday. we'll tell you how sales added up today because a lot of jobs are counting on it. in just a few weeks after mitt romney's defeat, the gop is already looking forward to 2016. say it ain't so and there's another bush on the horizon. plus, we're following news of a massive gas explosion in massachusetts. take a look. we'll have details just ahead. >> hi. >> you know, i can save you 15% today if you open up a charge card account with us. >> announcer: we all love a good deal during the holidays, especially identity thieves. they can open an account in your name and go on a seriou
to avert the fiscal cliff. the news reports the first projected budget surplus in a decade could turn into an 11 billion-dollar deficit. economists economists predict it would throw the economy into chaos triggering another recession. . many to 90% of california residents would see taxes go up. >> the cliff could also endanger the future of charities. nonprofit organizations are telling washington they can't survive if their funding is slashed. congress is considering a proposal that would cut from 35 to 28% the amount wealthy americans could write off in donations. >> a 1% decline in giving to american higher education would result in a loss of $300 million a year to colleges and universities. >> they have launched a new lobby including a website asking charities to contact their members of congress. >> the turkeys that didn't go to the thanksgiving table will be dished up because of the south of market store. more than 200 of their unsold fresh turkeys were frozen and donated to saint anthony's. they provide food for homeless, seniors and the working poor. they said that the nee
. why are you so he enamored of fiscal cliff? >> i don't think that $3,500 hit to the average family is going to happ. i think there will be a deal struck here, each side is going to have to give a little bit. my take on the fiscal cliff is the notion that is definitely in everybody's had affecting holiday spending but becoming its don't issue. we arelowing it up -- is like the debt ceiling talks we had last year. these all became issues because we made some issues. net net is no good long-term effects for the economy. gerri: you picked up something interesting out of ben bernanke at statement about banks being too tight with their lending. what did you make of that? >> it is very interesting because ben bernanke is talking about the unwillingness of banks to lend more noncredit were the people and the problem i have with that is banks are having to do that because ben bernanke has killed the bank model and if you look back at banks and how they make money they borrow on the short end meaning they borrow at the low end of interest rates and blended out on a long end meaning the consu
cliff, it's predicted that we will get another recession, now they're saying if we go off the fiscal cliff it only impact certain americans with taxes increasing and it will affect our country and economy. and we need face-to-face meetings and i don't think that obamacare should be on the table. >> you do not think that obamacare should be on the table. >> no. >> i don't think that obamacare should be on the table. it's the number one priority for the lawmakers right now whether you're a democrat or a republican, this should be priority number one, it's when john boehner had the new freshman tea partiers come in in 2010 and facing the debt ceiling, he characterized the first adult moment for the new freshmen congressmen and i think this is the second adult moment. can we get beyond party politics and rigid ideology and come with a compromise that will benefit the american people? we need both to look seriously at spending cuts and revenue generation for the country right now. >> all right, so let's-- >> and let's put a couple of ideas on the table and angela, i'm surprised you would
.ee as everyone knows with the looming so-called fiscal cliff discussion, if you cut too muchu you also drive the economy into an abyss so, you know, we'd all like to say we cut spending and live within our means, but it's not as simple as that.ple you can also cut spending too much so that you actually hurtrt the economy you're supposed to help. melissa: so, i agree with whath you are saying, and this is too civil. i got to derail it somehow or else it's no fun; right?in what's the point in doing it. >> bring it on, melissa, bring it on. do melissa: there's many times in the past where we've loweredn mortgagal rates and increased revenue.es if i were to conceive it's a revenue problem, it -- which i'm not going to, but for the sake of argument, under for kennedy, reduced the top rate from 90% to 70% in and in that time, revenue into the treasury went up from $94 billion to $15n billion by lowering the marginal rate. right there, there's your guy. look at him. >> you know, we can look at that, but, remember, that was i the 1960s #. the problems we have today are a thele bit differe the proble
the uncertainty around the fiscal cliff will impact their spending and job creators are cutting back on spending and a bad deal for the economy? well, let's ask. ben stein, dagen mcdowell, charlie gasperino and gary k. want to start with you. bad deal for all of us? >> of course, look, business investment was already down last quarter over 1%, and the word uncertainty just pervades the air and its business, its consumer, how about philanthropic organizations don't no what kind of write-offs for charity and the worst the outcome is probably going to be more, and taxes are going to go up and of course there will be no spending cuts. >> and ben, it does sound ominous, even if you're not someone who reads the wall street journal, the fiscal cliff, fiscal cliff, it could be the-- i don't know intimidation factor, it could actually be worse than going over the cliff. >> i think that's a brilliant point, charles. if we went over the cliff for a few months the impact would not be enormous, and uncertainty is a bad word and fear is a really, really bad words and these are the words that govern the econom
a pragmatic deal on the fiscal cliff put yourself in a hole you won't get out. >> and what's the prague matism, prime minister is claiming. >> 4-1 tax spending cuts. >> i haven't heard that. >> i think that's what he's going to come up with. >> and they go back to the clinton tax rates and it's not going to solve anything. and as if to say. >> the other part, you have to take out spending and entitlements, he didn't do it, i'll grant you that, didn't do it because he was trying to contact the base on the left and-- >> and no, no, i said to win the election. as a president he's going to govern, you watch much more centrist and if the republicans don't set the table, this'll look at whacko right wing. >> they have been at the table. >> my gut is he's going to be a centrist and they'll get a deal. >> there you have it right here. coming up, does the tea party play an effective role in this year's election. that's ahead. ♪ ♪ >> welcome back, everybody. less than three weeks since the election and it's divide not between democrats and republicans, however, between the conservatives, tea party
a way to avoid that so called fiscal cliff that could raise your taxes and throw the economy back into recession. kristen welker is in our washington bureau. good morning. >> reporter: president obama is also facing a number of challenges overseas, as you say, from the unrest in the middle east to the continuing fallout over the attack on the u.s. consulate in benghazi. but the fiscal cliff looms large. president obama returning from a post-thanksgiving round of golf, but off the links, the clock is ticking. lawmakers need to hammer out a deal to prevent the so called fiscal cliff. deep spending cuts and tax hikes set to take effect next year. >> i think we're all aware that we have some urgent business to do. >> reporter: after a meeting at the white house last week, congressional leaders struck a rare tone of bipartisanship. >> we had a very constructive meeting with the president. >> we feel very comfortable with each other. >> reporter: but a major sticking point remains -- taxes. president obama wants to let the bush era tax cuts expire for the wealthiest americans. many repu
on the economy if we head over the fiscal cliff. we either have to fly or we fall. and if you let these budget -- tax increases expire, and if you get these automatic cuts, you're all of a sudden going to yank a lot of money out of the economy. what does that mean? it means a smaller, shrinking economy all of a sudden. i think most people would like to avoid that. here's the good news. you don't need the republicans to be unanimous. you only need some republicans and a lot of democrats. that's kind of where we are right now. >> all right, thanks so much. good to see you from washington. >> good to see you. >>> all right, melissa stockwell, you may not know her name, but we have a story behind the name. she lost her leg after a roadside bomb hit her convoy in iraq. but she turned tragedy around and started a new career in prosthetics. hear her inspiring story. a hybrid? most are just no fun to drive. now, here's one that will make you feel alive. meet the five-passenger ford c-max hybrid. c-max says ha. c-max says wheeee. which is what you get, don't you see? cause c-max has lots more horsepowe
in a tough time, that you've got to have revenues make the kinds of investments that grow the economy and prepare for success. i do think i can offer those insights. >> woodruff: when you talk about the fiscal cliff are the deadline is supposed to be january 1, but you've been out there talking about what can be done about that. among other things, you're saying taxes should go-- in other words, the bush tax cuts should be allowed to expire on everyone under $500,000. which is more than what the president is saying. he's saying it ought to be at 250. yet difference? and have you tukd him about that? >> sure, yeah, yeah, it was over 500, not under 500. yeah, i-- that position, judy, is one that i put on the table a year ago. and i'll tell you why. there isn't anything sort of theological about the $500,000 number. it's just a compromise. the democrats' position has been tax cuts to expire over 250. the republicans' position has been make all the tax cuts permanent. so a year ago i put a of a compromise on the table. if that compromise were accepted, it would raise $500 billion in reven
and let's hope that the fiscal cliff, we get that resolved and hope that prices start to, don't keep going up like they are. let's hope that the tax situation doesn't get out of control and hope all of the negative things that could happen don't happen, but if they do happen, you're right, arthel, get ready because january and february are going to be rough months out there. >> arthel: well, we hope it doesn't come to that. we want everyone to have a, you know, good income and et cetera. and by the way, as someone told me you have pretty deep pockets if you want to buy me a christmas gift, no problem. (laughter) >> i already did. that's what i've done all weekend. >> arthel: good answers, ed butowsk butowsky. >> rick: you let me know if he sends you something. >> arthel: i will. >> rick: and new concerns over a sweeping new power grab from the president of egypt. how should the u.s. react? a fair and balanced look is ahead. >> plus a look at the hottest toys on the market right now. there's some of them. find out what is sure to make you a big hit with the little ones this-- that's cute,
to the fiscal cliff next week, layoff. they say they've already paid their debts, but have they? the cost of freedom at the top of the hour. we'll see you then. tends to . while a body in motion tends to stay in motion. staying active can actually ease arthritis sympto. but if you have arthritis, staying active can be difficult. prescription celebrex can help relieve arthritis pain so your body can stay in motion. because just one 200mg celebrex a day can provide 24 hour relief for many with arthritis pain and inflammation. plus, in clinical studies, celebrex is proven to improve daily physical function so moving is easier. celebrex can be taken with or without food. and it's not a narcotic. you and your doctor should balance the benets with theisks. all prescription nsaids, like celebrex, ibuprofen, naproxen, and meloxicam have the same cardiovascular warning. they all may increase the chance of heart attack or stroke, which can lead to death. this chance increases if you have heart disease risk factors suh as high blood pressure or when nsaids are taken for long periods. nsaids, includi
interpret this -- all of the drama around the fiscal cliff to be really, a total lack of faith? heresy in front of the growth model demonstrate as you point out, over the past two years, they are really saying, this economy can't grow fast enough to support the government. we won't see revenue increase unless we raise taxes. >> that is absolutely correct. but, of course, the perverse thing is you don't get growth if you raise tax rates. and, california and several to the states, the top rate is approaching 50%, effectively with a 50% top rate. and, business has as much incentive to fire somebody, to lower costs, as to hire somebody to increase revenues. >> lou: we have a contemporaneous pareexperiment g on, in california bringing tax levels above 50%, the nation, right now, getting ready to move higher are we going to see california behave that's cas th in the coal mine, if you will when it comes to economic growth and the ability to support an ever-growing government. >> yes, people are fleeing california. california is a microcosm of what happens to countries that raise their tax rat
Search Results 0 to 23 of about 24 (some duplicates have been removed)